Headlines from China: Entertainment Firms Release Q3 Reports

Entertainment Firms Release Q3 Reports

As the end of October is approaching, most listed entertainment firms have released their performance reports for the third quarter of 2018. According to a rough calculation by WeChat media account “yuleguan001,” 10 out of 14 listed companies made a profit during the reporting period. Beijing Enlight Media led the race with an estimated net profit of 165-190 million yuan. However, Enlight Media’s profit mainly came from selling stake in New Classics Media rather than winning big at the box office. Several TV production companies, such as Huace Media and H&R century, reported significant profit jump. Affected by Fan Bingbing tax evasion scandal, Huayi Brothers saw a 69%-71% decrease in net profit year-over-year, and Talent Television & Film Co. reported a 76%-92% drop. Read more on yuleguan001

Star Yang Mi’s “Failed” Attempt to Become An Actress

Baby, an arthouse film starring actress Yang Mi, has flopped at the box office with total ticket sales of less than 30 million yuan ($4.32 million) . In addition to being a box office bomb, the film also received a poor score of 5.7/10 on Chinese review site Douban. Yang Mi is one of the most popular celebrities in China and a darling of luxury brands. Baby is billed as Yang’s first arthouse movie. Many interpret Yang Mi’s participation in the film as an attempt to transform herself from a star into a real actress. Unfortunately, her popularity didn’t successfully translate into box office success or critical acclaim. Read more on yuledujiaoshou

Huayi Brothers Movie Theme Parks Start Paying Off

On July 22, Huayi Brothers’ first theme park officially opened in Suzhou. During this year’s week-long National-day holiday in October, the Suzhou theme park along with two other Huayi Brothers theme parks in Haikou and Changsha welcomed 300,000 visitors within 7 days. Tapping into the theme park business in 2011, Huayi Brothers is one of the first film companies to develop movie theme parks. When it comes to the company’s advantages in this area, CEO James Wang believes that an early start, a rich pool of film IPs and a good reputation as a movie production company will give Huayi Brothers the competitive edge to excel. Read more on xinhuanet.com